American employers added a better-than-expected 1,77,000 jobs in April as the job market showed resilience in the face of President Donald Trump's trade wars.
Hiring was down slightly from a revised 1,85,000 in March and came in above economists' expectations for a modest 1,35,000. The unemployment rate remained at a low 4.2 per cent, the Labour Department reported Friday.
President Donald Trump's aggressive and unpredictable policies including massive import taxes have clouded the outlook for the economy and the job market and raised fears that the American economy is headed toward recession.
But Friday's report showed the damage isn't showing up in the labour market yet. The labour market refuses to buckle in the face of trade war uncertainty, Christopher Rupkey, chief economist at fwdbonds, a financial markets research firm. Politicians can count their lucky stars that companies are holding on to their workers despite the storm clouds forming that could slow the economy further